Corigliano Investment Advisers LLC Has $803,000 Stock Position in Helix Energy Solutions Group, Inc. $HLX

Key Points

• Corigliano Investment Advisers LLC significantly reduced its holdings in Helix Energy Solutions Group by 75.4%, selling 295,483 shares and now owning 96,600 shares, which represents only 0.4% of its investment portfolio.
• Helix Energy Solutions Group reported a loss of $0.02 earnings per share for the last quarter, falling short of the consensus estimate of $0.01, while its revenue was $302.29 million, less than expected.
• Despite the earnings miss, analysts have varied opinions on Helix Energy Solutions Group, with Wall Street downgraded the stock to a "sell" rating while others maintain an "outperform" rating with a price target of $9.00.

Corigliano Investment Advisers LLC decreased its stake in Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) by 75.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,600 shares of the oil and gas company's stock after selling 295,483 shares during the period. Helix Energy Solutions Group accounts for approximately 0.4% of Corigliano Investment Advisers LLC's holdings, making the stock its 29th largest position. Corigliano Investment Advisers LLC owned approximately 0.06% of Helix Energy Solutions Group worth $803,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of HLX. Sunbelt Securities Inc. bought a new position in shares of Helix Energy Solutions Group during the fourth quarter worth approximately $34,000. AlphaQuest LLC increased its stake in Helix Energy Solutions Group by 594,600.0% in the first quarter. AlphaQuest LLC now owns 5,947 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 5,946 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Helix Energy Solutions Group by 43.1% in the first quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company's stock valued at $59,000 after acquiring an additional 2,123 shares during the last quarter. CWM LLC increased its stake in Helix Energy Solutions Group by 78.0% in the first quarter. CWM LLC now owns 10,699 shares of the oil and gas company's stock valued at $89,000 after acquiring an additional 4,688 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new position in Helix Energy Solutions Group in the first quarter valued at approximately $91,000. 91.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HLX. Wall Street Zen cut shares of Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Raymond James Financial reaffirmed an "outperform" rating and set a $9.00 target price (down previously from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Helix Energy Solutions Group has an average rating of "Moderate Buy" and an average target price of $12.00.

Helix Energy Solutions Group Trading Down 0.2%

HLX stock traded down $0.02 during midday trading on Tuesday, hitting $6.21. The stock had a trading volume of 303,642 shares, compared to its average volume of 1,756,459. The firm has a market cap of $912.05 million, a P/E ratio of 19.39 and a beta of 1.65. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. Helix Energy Solutions Group, Inc. has a 1-year low of $5.52 and a 1-year high of $12.33. The business has a fifty day moving average price of $6.25 and a two-hundred day moving average price of $6.79.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). Helix Energy Solutions Group had a net margin of 3.92% and a return on equity of 3.23%. The company had revenue of $302.29 million for the quarter, compared to analyst estimates of $326.62 million. Helix Energy Solutions Group has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current fiscal year.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.